Rumors that Chinese Internet companies are withdrawing from cryptocurrency projects

According to ChainCatcher citing Caixin, major internet conglomerates in China such as Alibaba and Tencent may gradually withdraw from the crypto market, while Chinese banks in Hong Kong are not participating in applying for stablecoin licenses. This move is believed to focus on developing the real economy, rather than continuing to expand activities in the crypto market.

The report states that Ant Group and Baidu have not yet provided an official response, while emphasizing that the information has not been verified, and there is no specific evidence or policy changes announced. The market has also not recorded any unusual capital outflows or on-chain fluctuations related to this rumor.

Currently, the crypto community is closely monitoring the situation, as China continues to promote the application of technologies such as AI, IoT, and blockchain in key economic sectors.